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Note 8 - Preferred Stock Issuance and Conversion | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Preferred Stock [Text Block] | NOTE 8 PREFERRED STOCK ISSUANCE AND CONVERSION Series B Preferred Stock The Series B Preferred Stock of the Company’s subsidiary, M&EC, is non-voting and non-convertible, has a $1.00 liquidation preference per share and may be redeemed at the option of the former stockholders of M&EC at any time for the per share price of $1.00. The holders of the Series B Preferred Stock will be entitled to receive when, as, and if declared by the Board of M&EC out of legally available funds, dividends at the rate of 5% per year per share applied to the amount of $1.00 per share, which dividends are fully cumulative. M&EC has not paid any of the cumulative dividends since the Series B Preferred Stock was issued. M&EC has been accruing dividends for the Series B Preferred Stock issued July 2002, and have accrued a total of approximately $931,000 of unpaid cumulative dividends since July 2002, of which $ 64,000 was accrued in each of the years ended December 31, 2003 to 2016 and is included in other long term liabilities in the accompanying Consolidated Balance Sheets.

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- Definition The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock. + References No definition available. + Details
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